The court allowed Reddy to cast his vote in the polls.
ACB Director General A K Khan told PTI that Reddy and two others were sent to 14-day judicial custody.
"Revanth Reddy was allowed by the court to cast his vote in the MLC elections today," the ACB chief said.
Election to the Telangana Legislative Council under MLAs' quota from the Assembly constituency is underway today to fill up six vacant seats.
Based on a complaint by nominated MLA Elvis Stephenson, ACB officials took Reddy and two others into custody last night after they were caught allegedly handing over Rs 50 lakh as bribe to the nominated MLA.
"Revanth Reddy and his aide allegedly offered a bribe of Rs 50 lakh as advance, as part of the Rs 5-crore deal.The TDP MLA and his aide had gone to the residence of Stephenson at Lalaguda in Secunderabad yesterday to allegedly hand over the cash when ACB sleuths caught them offering the bribe," Khan had earlier said.
After a preliminary probe, a case was registered yesterday and MLA Reddy and two others were caught while allegedly handing over the cash.
An FIR has been registered against them under Section 12 of the Prevention of Corruption Act and 120-B (criminal conspiracy) of IPC, the ACB officer said.
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